Sensex, Nifty Post Biggest Single Day Gain In A Month, Aided By HDFC
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India's stock benchmarks logged the biggest single day gain in a month, advancing for the second consecutive session, aided by power, utility, information technology and oil and gas stocks.
The S&P BSE Sensex rose 1.35% to 58,461.29. The NSE Nifty 50 advanced by a similar magnitude to 17,401.65. This is the most the two indices have gained since November 1.
Housing Development Finance Corp. contributed the most to the index gain, increasing 3.9%. Adani Ports & Special Economic Zone Ltd. had the largest increase, rising 4.4%. Today, 47 of 50 shares rose, while 3 fell.
The broader indices almost mirrored their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap rising over 1%. All the 19 sectoral indices compiled by BSE Ltd. advanced with S&P BSE Power, S&P BSE Utilities, S&P BSE Information Technology and S&P BSE Oil & Gas indexes leading the gains.
The market breadth was skewed in the favour of bulls. About 2,195 stocks advanced, 1,056 declined and 149 remained unchanged
"We expect the market to continue with its volatility given the uncertainty around the new Omicron variant and Fed tapering. However sharp sell-off have made valuations comfortable and the strong domestic economic data points continue to point towards economic recovery thus keeping long term fundamentals intact. We would hence advise investors to buy in this volatility in staggered fashion to build long term portfolio", Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd. wrote in a note
Dish TV India Clarifies On Report Of Talks With Bharti Airtel
Dish TV: Not aware of the transaction mentioned in news report
Source: Exchange filing
Swiggy To Invest $700 Million In Instant Grocery Service
Food delivery platform Swiggy will spend $700 million on growing its express grocery service Instamart, the startup said in a statement Thursday.
Swiggy Instamart was launched in 2020 in Gurugram and Bengaluru and now operates in 18 cities.
The service could reach an annual gross merchandise value run rate of $1 billion in the next three quarters.
Source: Swiggy Statement
Kirloskar Oil Has 4.7 Million Shares Change Hands In A Bunched Trade
Kirloskar Oil has 4.7 million shares (constituting 3.25% equity) change hands in a bunched trade.
Details of the buyers and sellers are not immediately known
Skipper Soars Over 18% After Securing Orders Worth Rs 300 Crore In Engineering Product Business
Shares of Skipper Ltd. rose over 18%, the biggest intraday gain in nearly six months, to Rs 79.4 apiece, after the company secured order worth Rs 300 crore for supply of transmission and telecom towers.
Skipper received the orders from Power Grid Corp of India and from other export markets.
The company's engineering business bagged transmission tower export orders of Rs 185 crore for several T&D projects across Latin America, Middle East, West Asia and South Asia markets and telecom towers from Latin America and Africa.
Skipper also secured new order worth Rs 115 crore of transmission towers from Power Grid Corp of India.
For the year so far, the maker of telecom and railway structures won orders in excess of Rs 1,300 crore.
Trading volume on the stock was 6.1 times the 30-day average volume, for this time of the day.
Price rose above 200-day simple moving average, indicating potential upward price momentum.
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